Due to rising financial instability, the price of gold has surpassed the historic $3,100 threshold. Amid worries over Trump’s trade war, gold saw strong demand as a haven, pushing it above $3,100 on Monday to record an all-time high. At the moment, gold is trading at $3,111, the intraday high on the global market.
Reports state that when Trump’s previously announced reciprocal tariff plans take effect on April 2, he may impose harsher trade taxes on certain nations. Moreover, Trump has threatened Iran with additional taxes and airstrikes if Tehran is unable to negotiate a nuclear agreement, and he has stated that he will put 25–50% secondary tariffs on Russian oil if Moscow obstructs his attempts to curb the conflict in Ukraine.
The global financial danger is rising, and gold is still a haven for storing cash in these situations. The demand for gold is increasing daily due to the rise in demand from central banks and institutional investors.
Global financial risk is increasing, and gold continues to be a safe refuge for investors in times of uncertainty. Every day, gold breaks new records due to rising demand from institutional investors and central banks.
It doesn’t appear that the price of gold will stop rising to new heights anytime soon. Even if the current gold bullishness is mostly driven by news, a short-term correction might not be completely ruled out.
Gold is probably about to enter the last leg of the rally into an April peak, according to a number of market analysts. Bullish cycle peaks usually occur when prices break beyond the top limit of the 10-week EMA envelope. The price of gold is anticipated to hit $3,200 shortly, and it is becoming more likely that it will rise above this level.
In India, the current 24-carat gold price is Rs 89,160. Over the previous year, the price of gold has increased by almost 38%. Silver, the other precious metal, has increased 36% during the same period and is catching up in the race.
Due to global trade concerns and demand for safe-haven assets, silver prices extended weekly advances by almost 4% to $34 per ounce, their highest level since October 2024.
Only time will tell why the prices of gold and silver are rising so quickly, and whether gold will ever reach Rs 1 lakh in India. We can also determine in retrospect if gold or silver will be a superior investment. Here are some things to consider to make an informed choice.
